This week’s Cotton Newsline is 3 cuts. All cuts are Dale Thompson, Manager of Marketing and Processing Technology for the National Cotton Council.
Suggested introduction cut 1:
USDA's Farm Service Agency recently issued new notices to county offices detailing cotton transfer procedures and more fully describing anticipated charges upon forfeiture. Dale Thompson, Manager of Marketing and Processing Technology for the National Cotton Council, says producers who sign a form 605 (pronounced: six-o-five) to allow their cotton to be transferred between warehouses, also need to negotiate a separate contract with that merchant which contains a hold harmless clause.
Suggested introduction cut 2:
According to Thompson the National Cotton Council has created a document with language that producers and merchants may wish to consider using.
Suggested introduction cut 3:
Thompson says the Farm Service Agency is also considering minor changes to Form 605 (pronounced: six-o-five) in order to conform that agreement to regulations and FSA policy.
